While Used Cars Pile Up in Lots, the Classics Are Busy Changing Hands
The market for vintage and collectable automobiles remains strong during this period of social lockdown, creating some unusual opportunities. Just don’t expect bargain basement prices.
A 1988 Porsche 959 Sport Coupe.
Photographer: Mike MaezAs coronavirus cases surpass two million worldwide, the car industry has experienced an upheaval radical enough to permanently alter the trajectory of modern transportation as we know it.
Auto prices across the board have fallen 10% in recent weeks, according to Manheim, which is owned by Cox Automotive. Used-car sales in March fell 64%. Manufacturers have postponed important debuts and switched factory production lines over to making medical equipment: In Detroit, General Motors is making ventilators instead of Escalades; in Sant'Agata Bolognese, Lamborghini is hand-stitching facial masks instead of Huracans.